Nuburu, Inc. Stock Forecast

Volatile ride for Nuburu, Inc. stock price on Friday moving between $0.183 and $0.240
(Updated on May 03, 2024)

BURU Signals & Forecast

The Nuburu, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.187 and $0.164. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 45.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Nuburu, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.207 and $0.189. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nuburu, Inc. finds support just below today's level at $0.207. If this is broken, then the next support from accumulated volume will be at $0.189 and $0.177.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0570 between high and low, or 31.15%. For the last week the stock has had daily average volatility of 16.91%.

The Nuburu, Inc. stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $0.223 (-2.86%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (BURU) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Nuburu, Inc. to open at $0.218, and during the day (based on 14 day Average True Range), to move between $0.207 and $0.253, which gives a possible trading interval of +/-$0.0226 (+/-9.82%) up or down from last closing price. If Nuburu, Inc. takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.207, some $0.0230 (10.00%) from the current price of $0.230, our system finds the risk reward attractive.

Is Nuburu, Inc. stock A Buy?

Nuburu, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Nuburu, Inc. of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.